Berlin eyes compromise with IMF, report says

Berlin eyes compromise with IMF, report says

German Finance Minister Wolfgang Schaeuble is eyeing a compromise with the International Monetary Fund over Greek debt relief ahead of federal elections in September, Die Welt newspaper reported over the weekend.

According to the report, Schaeuble has asked ministry officials to outline a possible agreement with the Washington-based Fund on Greek debt restructuring.

“The Germans would be willing to back down on the following IMF demand: For the government to provide a detailed document on the measures for debt relief,” the report said.

In a separate report over the weekend, Schaeuble was quoted as saying that Greece has made strong progress towards introducing reforms that could lead to the imminent release of further financial aid.

“If the Greek government upholds all the agreements, European finance ministers could complete the review on May 22 and then soon after that release the next tranche,” Schaeuble told the Funke media group newspapers.

Greece and its international creditors reached a preliminary agreement at a Eurogroup meeting last month to set up the next transfer of some 7 billion euros in financial assistance. But the finance ministers will not release the tranche until the audit is completed.

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